Profund Advisors LLC trimmed its holdings in Alcoa Corp (NYSE:AA) by 33.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,771 shares of the industrial products company’s stock after selling 3,978 shares during the quarter. Profund Advisors LLC’s holdings in Alcoa Corp were worth $254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Pacer Advisors Inc. raised its stake in Alcoa Corp by 3.3% during the 1st quarter. Pacer Advisors Inc. now owns 4,140 shares of the industrial products company’s stock worth $142,000 after buying an additional 132 shares during the period. NEXT Financial Group Inc raised its stake in Alcoa Corp by 2.4% during the 2nd quarter. NEXT Financial Group Inc now owns 4,462 shares of the industrial products company’s stock worth $146,000 after buying an additional 104 shares during the period. Van ECK Associates Corp raised its stake in Alcoa Corp by 42.3% during the 1st quarter. Van ECK Associates Corp now owns 5,566 shares of the industrial products company’s stock worth $191,000 after buying an additional 1,654 shares during the period. Global X Management Co. LLC raised its stake in Alcoa Corp by 220.6% during the 2nd quarter. Global X Management Co. LLC now owns 5,803 shares of the industrial products company’s stock worth $189,000 after buying an additional 3,993 shares during the period. Finally, AXA acquired a new position in Alcoa Corp during the 1st quarter worth approximately $206,000.
AA has been the topic of a number of research reports. ING Group raised Alcoa Corp to a “buy” rating in a research note on Friday, June 23rd. Deutsche Bank AG raised Alcoa Corp from a “hold” rating to a “buy” rating and upped their price target for the stock from $44.00 to $60.00 in a research note on Tuesday, September 12th. BMO Capital Markets set a $45.00 price target on Alcoa Corp and gave the stock a “buy” rating in a research note on Saturday, August 5th. Clarkson Capital reaffirmed a “buy” rating on shares of Alcoa Corp in a research note on Thursday, July 20th. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $45.00 price target on shares of Alcoa Corp in a research note on Saturday, July 22nd. Six investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $47.83.
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Alcoa Corp (AA) opened at 46.94 on Thursday. The stock has a 50 day moving average price of $46.01 and a 200 day moving average price of $46.01. Alcoa Corp has a 12-month low of $20.00 and a 12-month high of $49.30. The company has a market capitalization of $8.65 billion and a price-to-earnings ratio of 53.40.
Alcoa Corp (NYSE:AA) last announced its quarterly earnings data on Wednesday, July 19th. The industrial products company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. Alcoa Corp had a net margin of 1.63% and a return on equity of 3.29%. The company had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same period in the previous year, the business earned $0.15 EPS. The firm’s revenue for the quarter was up 23.1% on a year-over-year basis. On average, analysts expect that Alcoa Corp will post $3.06 EPS for the current year.
Alcoa Corp Company Profile
Alcoa Corporation, formerly Alcoa Upstream Corporation, is engaged in the production of bauxite, alumina and aluminum of various cast and rolled products. The Company is engaged in the production and management of aluminum and alumina combined through its participation in various aspects of the industry, such as technology, mining, refining, smelting, and recycling.
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